Apparel

Dallas -- Greenway Investment Co. has acquired Denton Town Center in Denton, Texas, from a family trust represented by the Dallas office of Transwestern. Dollar-Flowers Realty Partners represented Greenway.

Birmingham, Ala. – Net income and sales declined at Hibbett Sports Inc. during the fourth quarter of fiscal 2013. Net income dropped 13% from $19.6 million in the fourth quarter of the prior fiscal year to $16.4 million, while net sales inched upward 0.2% to $217.8 million from $217.4 million.

Same-store sales rose 1.7% during the quarter. Hibbett Sports cited slowing sales in January due to inclement weather and a less favorable sales impact from the national college football championship game as impacting net income.

New York -- Sears Holdings Corp. said its board has approved the spin on of its Lands’ End business, effective April 4, according to a filing with the U.S. Securities and Exchange Commission.
 
The agreement, which was announced in December, will make Lands' End an independent company that will trade on the Nasdaq under the symbol “LE.”

Sears stockholders on record as of March 24 will receive about 0.3 shares of Lands' End common stock for each share of Sears they own.

Lands' End will be back on its own as a publicly traded company following a formal announcement by parent company Sears Holdings to spin off the well-known apparel brand.

The move follows years of speculation that Sears would divest the brand, which it acquired in May 2002 for $62 a share. At the time, Lands' End was a publicly traded company with revenues of nearly $1.6 billion, profits of $67 million and earnings per share of $2.23. The $62 a share Sears paid 12 years ago represented a 21.5% premium over the closing pricing of $51.02 prior to the announcement of the deal.

Jessica Simpson’s plus-size swimwear line is now available at Swimsuitsforall, a leading online retailer for women's swimwear.

The collection features tankinis, swimdresses and plus-size bikinis, including high-waisted bottoms paired with bandeau/halter bikini tops.

Recently, Swimsuitsforall debuted their Designer Boutique swimwear collection, featuring MICHAEL Michael Kors, Anne Cole, Becca ETC, Kenneth Cole Reaction, La Blanca, Carmen Marc Valvo, Badgley Mischka and Jessica Simpson.

 

 

 

Land of Nod was founded 18 years ago as an online retailer of furniture, décor and bedding for infants and kids but has since become an omnichannel operator with an upscale brand.
 
The company currently operates five stores in California, Illinois and Seattle. Managing director Michelle Kohanzo shared some perspective on what it’s like to work at an omnichannel retailer in the latest installment of This Is Retail from the National Retailer Federation.

REI, a leading specialty retailer of outdoor gear and apparel, achieved record annual sales of $2 billion in 2013, up 5.9% from $1.9 billion the previous year, despite a challenging retail environment and severe winter weather.

Comparable store sales, including direct-to-consumer sales, increased 2.9%.

New York -- Nordstrom is going to be a big success in Canada, according to Antony Karabus, president, Hilco Retail Consulting. (Nordstrom has plans for six stores in Canada, with the possibility of adding a few more over time.) “Every one of the six stores they (Nordstrom) picked in Canada is a home run in terms of the location. It’s the perfect time, perfect sector and the perfect time in the sector,” Karabus said during a recent presentation on “The State of the Canadian Retail Market.”

New York -- Dollar General, Ross Stores and Dick’s Sporting Goods are bullish on expansion. For 2014, Dollar General has budgeted $450 million to $500 million for capital expenditures, and plans to open 700 new locations. This follows a record year of square footage expansion during which the extreme-value discounter opened 650 stores. Ross Stores also continues to expand in 2014. The off-price apparel and home fashions retailer is on track to open about 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts.

Canton, Mass. – Destination XL Group Inc. reported a net loss of $55.1 million for its fourth quarter, compared to net income of $4.2 million in the year-ago period. The chain cited a sluggish retail environment, a shorter holiday selling season and adverse weather conditions as contributing to the disappointing results.